FICO and the Credit Card Financial Prison: How a Three Digit Credit Score Reflects Consumerism and not Financial Independence.

(myBudget360.com) — Americans carry $900 billion in credit card debt. Approximately 75 percent of all those eligible for credit, those that are 18 years or older, have a credit rating score at any given time. This mysterious three digit score named a FICO Score is the basis for loans, interest rates, and should reflect your ability to manage debt. Yet this is one of those confusing public relation developed ideas that tries to water down the fact that going into debt is somehow good for average Americans. Not only is going into debt good, you now have a credit score that is supposed to be some kind of financial report card.